Thread regarding MRC Global layoffs

Layoffs are happening but everyone is silent

Poor, poor....

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Post ID: @OP+14o9PScg

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Nothing positive to post, all negatives

  • earning down by 50% from same time last year
  • stock down over 68% as of June 2020
  • CEO retiring next year
  • monthly layoffs (700 people let go since Jan 2020)
  • old outdated systems though trying to modernize on a shoestring budget
  • unable to acquire new customers or diversify into more profitable areas
  • continuously shutting down and consolidating warehouses as their business erodes
  • unable to afford to remain in their downtown Houston office, looking for cheaper accommodations
  • 401K match suspended and employees being forced to take unpaid time off bi-monthly
Post ID: @1fnqo+14o9PScg

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